Computing architecture for managed-account transactions

ABSTRACT

An improved computing architecture for managed-account transactions is presented. In accordance with embodiments, responsive to receiving a request to purchase a number of units of an asset for an account of a client, a computing system may instantiate, in a client object associated with the client, objects, comprising variables for storing bases for the units and may instantiate, in an account object stored within the client object and associated with the account, objects representing the units. And for each of the units, responsive to receiving data indicating a price and time at which the unit was purchased, the computing system may store, an indication of the price and time and data associating the indication with one of the objects that represents the unit and may store data indicating the price at which the unit was purchased in one of the objects for storing bases for the units.

BACKGROUND

Existing computing architectures for managed-account transactionspresent many shortcomings. For example, conventional architectures aretypically based exclusively on settlement-date data and utilize shadowaccounting, which often presents reporting and reconciliationchallenges, both in the performance and regulatory contexts. Thesechallenges are exacerbated by the failure of such architectures toutilize data schemas and structures designed from the outset formanaged-account transactions, as well as a lack of appropriate dataquality checks throughout their lifecycles. Accordingly, a need existsfor an improved computing architecture for managed-account transactions.

SUMMARY

The following presents a simplified summary in order to provide a basicunderstanding of some aspects of the disclosure. This summary is not anextensive overview of the disclosure. It is intended neither to identifykey or critical elements of the disclosure nor to delineate the scope ofthe disclosure. The following summary merely presents some concepts ofthe disclosure in a simplified form as a prelude to the descriptionbelow.

In accordance with one or more embodiments, a computing system mayreceive data indicating an allocation of investments prescribed by afirst investment manager and an allocation of investments prescribed bya second investment manager. The computing system may generate, inaccordance with the allocation of investments prescribed by the firstinvestment manager, a first investment strategy and may generate, inaccordance with the allocation of investments prescribed by the secondinvestment manager, a second investment strategy. Responsive toreceiving a request to allocate funds of a client amongst the firstinvestment strategy and the second investment strategy, the computingsystem may instantiate, in an account object associated with the client,a sleeve object for the first investment strategy and a sleeve objectfor the second investment strategy.

In some embodiments, for each asset of a plurality of assets prescribedby the first investment manager, the computing system may determine,based on a percentage to be invested in the asset indicated by the firstinvestment strategy and a percentage of the funds allocated by therequest to the first investment strategy, a number of units of the assetto be purchased for the client and may instantiate, in the sleeve objectfor the first investment strategy and for each unit of the units, anobject representing the unit. Similarly, in such embodiments, for eachasset of a plurality of assets prescribed by the second investmentmanager, the computing system may determine, based on a percentage to beinvested in the asset indicated by the second investment strategy and apercentage of the funds allocated by the request to the secondinvestment strategy, a number of units of the asset to be purchased forthe client and may instantiate, in the sleeve object for the secondinvestment strategy and for each unit of the units, an objectrepresenting the unit.

In some embodiments, for each asset of the plurality of assetsprescribed by the first investment manager and each unit of the units,the computing system may generate instructions to purchase the unit andmay communicate the instructions to purchase the unit to one or moretrading platforms. Similarly, in such embodiments, for each asset of theplurality of assets prescribed by the second investment manager and eachunit of the units, the computing system may generate instructions topurchase the unit and may communicate the instructions to purchase theunit to the trading platform(s). Responsive to receiving, from the oneor more trading platforms and for each asset of the plurality of assetsprescribed by the first investment manager and each unit of the units,data indicating a price and time at which the unit was purchased, thecomputing system may store an indication of the price and time at whichthe unit was purchased and data associating the indication with theobject representing the unit. Similarly, responsive to receiving, fromthe one or more trading platforms and for each asset of the plurality ofassets prescribed by the second investment manager and each unit of theunits, data indicating a price and time at which the unit was purchased,the computing system may store an indication of the price and time atwhich the unit was purchased and data associating the indication withthe object representing the unit.

In some embodiments, the computing system may identify, for at least oneasset of the plurality of assets prescribed by the first investmentmanager, one or more objects in the account object representingpreviously purchased units of the asset. In such embodiments, thecomputing system may store, in the sleeve object for the firstinvestment strategy, at least a portion of the one or more objectsrepresenting the previously purchased units of the asset, may determinea current market price for the asset, and may store an indication of thecurrent market price and a time at which the one or more objectsrepresenting the previously purchased units of the asset were stored inthe sleeve object for the first investment strategy.

In some embodiments, the computing system may determine, at an intervalspecified by the request, a current market valuation for assetsrepresented by objects stored in the sleeve object for the firstinvestment strategy and a current market valuation for assetsrepresented by objects stored in the sleeve object for the secondinvestment strategy. In such embodiments, responsive to determining thata ratio of the current market valuation for assets represented byobjects stored in the sleeve object for the first investment strategy tothe current market valuation for assets represented by objects stored inthe sleeve object for the second investment strategy exceeds a ratio ofthe percentage of the funds allocated by the request to the firstinvestment strategy to the percentage of the funds allocated by therequest to the second investment strategy by a threshold amount, thecomputing system may reallocate one or more of the assets represented bya portion of the objects stored in the sleeve object for the firstinvestment strategy to the second investment strategy.

For example, in some embodiments, the computing system may move theportion of the objects stored in the sleeve object for the firstinvestment strategy to the sleeve object for the second investmentstrategy, may determine a current market price for each of the asset(s),and may store an indication of the current market price for each of theasset(s) and a time at which the portion of the objects stored in thesleeve object for the first investment strategy were moved to the sleeveobject for the second investment strategy.

Additionally or alternatively, the computing system may generateinstructions to sell the asset(s) and may communicate the instructionsto one or more trading platforms.

Responsive to receiving from the trading platform(s), data indicatingprices and times at which the asset(s) were sold, the computing systemmay store an indication of the prices and times at which the asset(s)were sold and data associating the indication with the sleeve object forthe first investment strategy and may determine an amount of fundsgenerated by selling the asset(s). For each asset of the plurality ofassets prescribed by the second investment manager, the computing systemmay determine, based on the second investment strategy and the amount offunds generated by selling the asset(s), a number of additional units ofthe asset to be purchased for the client. For each unit of theadditional units, the computing system may instantiate, in the sleeveobject for the second investment strategy, an object representing theunit, may generate instructions to purchase the unit, may communicatethe instructions to purchase the unit to the trading platform(s), and,responsive to receiving, from the trading platform(s), data indicating aprice and time at which the unit was purchased, may store an indicationof the price and time at which the unit was purchased and dataassociating the indication with the object representing the unit.

In some embodiments, responsive to receiving data indicating amodification to an allocation of investments prescribed by a firstinvestment manager and a modification to an allocation of investmentsprescribed by a second investment manager, the computing system mayupdate the first investment strategy based on the modification to theallocation of investments prescribed by the first investment manager andmay update the second investment strategy based on the modification tothe allocation of investments prescribed by the second investmentmanager. In such embodiments, the computing system may identify theaccount object associated with the client, may modify a plurality ofobjects in the sleeve object for the first investment strategy inaccordance with the modification to the allocation of investmentsprescribed by the first investment manager, and may modify a pluralityof objects in the sleeve object for the second investment strategy inaccordance with the modification to the allocation of investmentsprescribed by the second investment manager.

In some embodiments, responsive to determining that the modification tothe allocation of investments prescribed by the first investment managercomprises a decrease in an asset prescribed by the first investmentmanager for which the modification to the allocation of investmentsprescribed by the second investment manager comprises an increase, thecomputing system may determine, based on a percentage to be invested inthe asset indicated by the first investment strategy, a percentage to beinvested in the asset indicated by the second investment strategy, apercentage of the funds allocated to the first investment strategy, anda percentage of the funds allocated to the second investment strategy, anumber of units of the asset to reallocate to the second investmentstrategy. In such embodiments, the computing system may move a portionof the plurality of objects in the sleeve object for the firstinvestment strategy representing the number of units to the sleeveobject for the second investment strategy, may determine a currentmarket price for the asset, and may store an indication of the currentmarket price, the number of units, and a time at which the portion ofthe plurality of objects in the sleeve object for the first investmentstrategy were moved to the sleeve object for the second investmentstrategy.

In some embodiments, responsive to determining, based on the percentageto be invested in the asset indicated by the second investment strategyand the percentage of the funds allocated to the second investmentstrategy, that a total number of units of the asset to be held by theclient for the second investment strategy in accordance with themodification to the allocation of investments prescribed by the secondinvestment manager is greater than a sum of a number of units of theasset previously held by the client for the second investment strategyand the number of units of the asset reallocated to the secondinvestment strategy from the first investment strategy, for each unit ofa number of units of the asset corresponding to a difference between thetotal number of units and the sum, the computing system may instantiate,in the sleeve object for the second investment strategy, an objectrepresenting the unit, may generate instructions to purchase the unit,may communicate the instructions to one or more trading platforms, and,responsive to receiving, from the trading platform(s), data indicating aprice and time at which the unit was purchased, may store an indicationof the price and time at which the unit was purchased and dataassociating the indication with the object representing the unit.

In some embodiments, responsive to determining, after moving the portionof the plurality of objects in the sleeve object for the firstinvestment strategy representing the number of units to the sleeveobject for the second investment strategy, and based on the percentageto be invested in the asset indicated by the first investment strategyand the percentage of the funds allocated to the first investmentstrategy, that a total number of units of the asset to be held by theclient for the first investment strategy in accordance with themodification to the allocation of investments prescribed by the firstinvestment manager is less than a number of units of the asset held bythe client for the first investment strategy, for each unit of a numberof units of the asset corresponding to a difference between the numberof units of the asset held by the client for the first investmentstrategy and the total number of units, the computing system maygenerate instructions to sell the unit, may communicate the instructionsto one or more trading platforms, and, responsive to receiving, from thetrading platform(s), data indicating a price and time at which the unitwas sold, may store an indication of the price and time at which theunit was sold and data associating the indication with the sleeve objectfor the first investment strategy.

In some embodiments, responsive to determining that the modification tothe allocation of investments prescribed by the second investmentmanager comprises a decrease in an asset prescribed by the secondinvestment manager for which the modification to the allocation ofinvestments prescribed by the first investment manager comprises anincrease, the computing system may determine, based on a percentage tobe invested in the asset indicated by the first investment strategy, apercentage to be invested in the asset indicated by the secondinvestment strategy, a percentage of the funds allocated to the firstinvestment strategy, and a percentage of the funds allocated to thesecond investment strategy, a number of units of the asset to reallocateto the first investment strategy, may move a portion of the plurality ofobjects in the sleeve object for the second investment strategyrepresenting the number of units to the sleeve object for the firstinvestment strategy, may determine a current market price for the asset,and may store an indication of the current market price, the number ofunits, and a time at which the portion of the plurality of objects inthe sleeve object for the second investment strategy were moved to thesleeve object for the first investment strategy.

In some embodiments, responsive to determining that a dividend for theasset was paid for a period of time prior to the time at which theportion of the plurality of objects in the sleeve object for the secondinvestment strategy were moved to the sleeve object for the firstinvestment strategy, the computing system may allocate the dividend tothe second investment strategy. In such embodiments, the computingsystem may determine, based on a percentage to be invested in the assetindicated by the second investment strategy, the percentage of the fundsallocated to the second investment strategy, and an amount of thedividend, a number of units of the asset to be purchased for the clientand, for each unit of the units, may instantiate, in the sleeve objectfor the second investment strategy, an object representing the unit, maygenerate instructions to purchase the unit, may communicate theinstructions to one or more trading platforms, and, responsive toreceiving, from the trading platform(s), data indicating a price andtime at which the unit was purchased, may store an indication of theprice and time at which the unit was purchased and data associating theindication with the object representing the unit.

In some embodiments, responsive to receiving data indicating a pluralityof elective options for a dividend to be paid by an issuer of an assetincluded in the allocation of investments prescribed by the firstinvestment manager and the allocation of investments prescribed by thesecond investment manager, the computing system may generate a ballotcomprising the plurality of elective options for the dividend and maycommunicate the ballot to one or more computing devices associated withthe first investment manager and the second investment manager. Thecomputing system may receive, from the computing device(s), dataindicating an election made by the first investment manager, via theballot, indicating how the dividend should be paid for a plurality ofassets invested in accordance with the first investment strategy and anelection made by the second investment manager, via the ballot,indicating how the dividend should be paid for a plurality of assetsinvested in accordance with the second investment strategy. For eachunit of a plurality of units of the asset held by the client, responsiveto determining that the unit is invested in accordance with the firstinvestment strategy, the computing system may store, in the memory, anindication of how the dividend should be paid for the plurality ofassets invested in accordance with the first investment strategy anddata associating the indication with an object corresponding to the unitand stored in the sleeve object for the first investment strategy, andresponsive to determining that the unit is invested in accordance withthe second investment strategy, the computing system may store, in thememory, an indication of how the dividend should be paid for theplurality of assets invested in accordance with the second investmentstrategy and data associating the indication with an objectcorresponding to the unit and stored in the sleeve object for the secondinvestment strategy.

In some embodiments, responsive to identifying, an availability of fundsassociated with the dividend and additional units of the assetassociated with the dividend, the computing system may, for each unit ofthe plurality of units of the asset held by the client, responsive todetermining, based on the indication and the data associating theindication with the object corresponding to the unit, that the unit isinvested in accordance with the first investment strategy and that aportion of the funds associated with the dividend should be allocated tothe unit, instantiate, in the sleeve object for the first investmentstrategy, one or more objects representing the portion of the funds andresponsive to determining, based on the indication and the dataassociating the indication with the object corresponding to the unit,that the unit is invested in accordance with the second investmentstrategy and that a portion of the additional units of the assetassociated with the dividend should be allocated to the unit,instantiate, in the sleeve object for the second investment strategy andfor each additional unit in the portion of the additional units, anobject representing the additional unit.

In some embodiments, the computing system may allocate, based on thefirst investment strategy, the portion of the funds to one or moreassets included in the allocation of investments prescribed by the firstinvestment manager and may determine, based on the first investmentstrategy and for each asset of the one or more assets, a number of unitsof the asset to be purchased for the client. In such embodiments, thecomputing system may, for each asset of the one or more assets and eachunit of the units, instantiate, in the sleeve object for the firstinvestment strategy, an object representing the unit, generateinstructions to purchase the unit, communicate the instructions to oneor more trading platforms, and responsive to receiving, from the tradingplatform(s), data indicating a price and time at which the unit waspurchased, store, in the memory, an indication of the price and time atwhich the unit was purchased and data associating the indication withthe object representing the unit.

In some embodiments, the computing system may allocate, based on thesecond investment strategy, one or more units in the portion of theadditional units to one or more assets included in the allocation ofinvestments prescribed by the second investment manager, may determine,based on the second investment strategy and a current market valuationof the one or more units in the portion of the additional units, and foreach asset of the one or more assets, a number of units of the asset tobe purchased for the client, and may instantiate, in the sleeve objectfor the second investment strategy and for each asset of the one or moreassets and each unit of the units, an object representing the unit. Insuch embodiments, the computing system may, for each unit of the one ormore units in the portion of the additional units, generate instructionsto sell the unit, communicate the instructions to one or more tradingplatforms, and responsive to receiving, from the trading platform(s),data indicating a price and time at which the unit was sold, store, inthe memory, an indication of the price and time at which the unit wassold and data associating the indication with the object representingthe unit. In some embodiments, the computing system may, for each assetof the one or more assets and each unit of the units, generateinstructions to purchase the unit, communicate the instructions to thetrading platform(s), and responsive to receiving, from the tradingplatform(s), data indicating a price and time at which the unit waspurchased, store, in the memory, an indication of the price and time atwhich the unit was purchased and data associating the indication withthe object representing the unit.

In some embodiments, the computing system may generate a request for thefirst investment manager to verify the allocation of investmentsprescribed by the first investment manager and a request for the secondinvestment manager to verify the allocation of investments prescribed bythe second investment manager and may communicate the requests to thecomputing device(s) associated with the first investment manager and thesecond investment manager. In such embodiments, responsive to adetermination by the at least one processor that the election made bythe first investment manager has been received and that the electionmade by the second investment manager has not been received, thecomputing system may communicate, to one or more computing devicesassociated with the second investment manager, an additional request forthe second investment manager to verify the allocation of investmentsprescribed by the second investment manager, and the additional requestmay indicate that the election made by the second investment manager hasnot been received.

In some embodiments, the election made by the first invest manager mayindicate that the dividend should be paid via a first method for aportion of the plurality of assets invested in accordance with the firstinvestment strategy held in taxable accounts and via a second method fora portion of the plurality of assets invested in accordance with thefirst investment strategy held in tax-exempt accounts, and the firstmethod may be different from the second method.

In some embodiments, responsive to determining to purchase a unit of anasset for the client, the computing system may instantiate, in theclient object, an object comprising a variable for storing a basis forthe unit. In such embodiments, responsive to receiving data indicating aprice and time at which the unit was purchased, the computing system maystore, in the variable for storing the basis for the unit, dataindicating the price at which the unit was purchased.

In some embodiments, responsive to determining to sell a unit of anasset for the client, the computing system may select, from amongst aplurality of bases for the asset stored in a plurality of objectsassociated with the asset and stored in the client object, a basis forthe unit. In such embodiments, responsive to receiving data indicating aprice and time at which the unit was sold, the computing system maydetermine a difference between the basis for the unit and the price atwhich the unit was sold. In some embodiments, the selected basis may beassociated with a unit of the asset purchased for a different investmentstrategy and/or a different account of the client.

In some embodiments, the computing system may select the basis for theunit based on a predetermined parameter for the client or the account.For example, the predetermined parameter may indicate that a highestavailable basis for the unit should be utilized for the unit, and thecomputing system may select, from amongst the plurality of bases for theasset, the highest basis. Alternatively, the predetermined parameter mayindicate that a lowest available basis for the unit should be utilizedfor the unit, and the computing system may select, from amongst theplurality of bases for the asset, the lowest basis.

In some embodiments, the predetermined parameter may comprise a realizedgain-loss value for the client. In such embodiments, the computingsystem may select, based on a current market valuation of the unit, abasis having a difference with the current market valuation of the unitthat is closest to the realized gain-loss value for the client. In someembodiments, the realized gain-loss value for the client may reflect oneor more losses carried forward by the client from a time at least oneyear prior to a time at which the unit was sold.

In some embodiments, the computing system may determine a performancecomposite for an investment strategy (e.g., the first investmentstrategy and/or the second investment strategy). In such embodiments,the computing system may identify, in its memory, a plurality of accountobjects comprising a plurality of sleeve objects for the investmentstrategy and may identify a portion of the plurality of account objectsmeeting one or more criteria of the performance composite. The computingsystem may determine the performance composite based on data stored in aportion of the plurality of sleeve objects stored in the portion of theplurality of account objects, may generate a report indicating theperformance composite, and may communicate the report to one or morecomputing devices associated with the plurality of account objects.

In some embodiments, for each account object of the portion of theplurality of account objects, the computing system may determine thatthe account object does not comprise data indicating one or more assetrestrictions specified by the one or more criteria. In some embodiments,for each account object of the portion of the plurality of accountobjects, the computing system may determine that the account objectcomprised a sleeve object of the plurality of sleeve objects for eachday of a time range specified by the one or more criteria. In suchembodiments, the computing system may determine a market valuation at abeginning of the time range for assets held within the sleeve object atthe beginning of the time range, a market valuation at an end of thetime range for assets held within the sleeve object at the end of thetime range, and a ratio of the market valuation at the beginning of thetime range to the market valuation at the end of the time range.

In some embodiments, the report may comprise a comparison of theperformance composite with a plurality of other performance composites.For example, the one or more criteria may specify a time range for theperformance composite, and the plurality of other performance compositesmay comprise one or more performance composites for the investmentstrategy indicating performance of the investment strategy over one ormore periods of time beginning before the time range. Additionally oralternatively, the plurality of other performance composites maycomprise one or more performance composites for a different investmentstrategy indicating performance of the different investment strategyover the time range and/or the one or more periods of time beginningbefore the time range.

In some embodiments, responsive to a request to purchase one or moreunits of an asset for an account of a client, the computing system mayidentify a customized rule for the account, the client, and/or theasset. In such embodiments, responsive to identifying the customizedrule, the computing system may determine whether the request meets eachof one or more criteria specified by the customized rule beforepurchasing the unit(s).

In some embodiments, the computing system may determine that an accountobject associated with the account does not comprise data indicating oneor more asset restrictions that implicate the asset. In suchembodiments, the client object in which the account object associatedwith the account is stored may comprise a different account object, andthe different account object may comprise data indicating one or moreasset restrictions that implicate the asset. For example, the requestmay be based on an investment decision by an entity different from anentity where the account is maintained, the asset may be restrictedbased on the entity where the account is maintained, and investmentdecisions for an account associated with the different account objectmay be made by the entity where the account is maintained.

In some embodiments, the computing system may determine that the requestmeets one or more criteria prescribed by a government of a stateassociated with the request. For example, the computing system maydetermine that the request meets a licensure requirement for a type ofthe asset. Additionally or alternatively, the computing system maydetermine that the request meets a disclosure requirement for the asset.

Other details and features will be described in the sections thatfollow.

BRIEF DESCRIPTION OF THE DRAWINGS

The present disclosure is pointed out with particularity in the appendedclaims. Features of the disclosure will become more apparent upon areview of this disclosure in its entirety, including the drawing figuresprovided herewith.

Some features herein are illustrated by way of example, and not by wayof limitation, in the figures of the accompanying drawings, in whichlike reference numerals refer to similar elements, and wherein:

FIG. 1 depicts an illustrative operating environment in which variousaspects of the present disclosure may be implemented in accordance withone or more example embodiments;

FIG. 2 depicts an illustrative block diagram of workstations and serversthat may be used to implement the processes and functions of certainaspects of the present disclosure in accordance with one or more exampleembodiments;

FIG. 3 depicts an illustrative computing environment in accordance withone or more example embodiments;

FIGS. 4A, 4B, 4C, and 4D depict an illustrative event sequence inaccordance with one or more example embodiments;

FIG. 5 depicts aspects of various illustrative data structures inaccordance with one or more example embodiments; and

FIG. 6 depicts an illustrative method in accordance with one or moreexample embodiments.

DETAILED DESCRIPTION

In the following description of various illustrative embodiments,reference is made to the accompanying drawings, which form a parthereof, and in which is shown, by way of illustration, variousembodiments in which aspects of the disclosure may be practiced. It isto be understood that other embodiments may be utilized, and structuraland functional modifications may be made, without departing from thescope of the present disclosure.

It is noted that various connections between elements are discussed inthe following description. It is noted that these connections aregeneral and, unless specified otherwise, may be direct or indirect,wired or wireless, and that the specification is not intended to belimiting in this respect.

FIG. 1 depicts an illustrative operating environment in which variousaspects of the present disclosure may be implemented in accordance withone or more example embodiments. Referring to FIG. 1, computing systemenvironment 100 may be used according to one or more illustrativeembodiments. Computing system environment 100 is only one example of asuitable computing environment and is not intended to suggest anylimitation as to the scope of use or functionality contained in thedisclosure. Computing system environment 100 should not be interpretedas having any dependency or requirement relating to any one orcombination of components shown in illustrative computing systemenvironment 100.

Computing system environment 100 may include computing device 101 havingprocessor 103 for controlling overall operation of computing device 101and its associated components, including random-access memory (RAM) 105,read-only memory (ROM) 107, communications module 109, and memory 115.Computing device 101 may include a variety of computer readable media.Computer readable media may be any available media that may be accessedby computing device 101, may be non-transitory, and may include volatileand nonvolatile, removable and non-removable media implemented in anymethod or technology for storage of information such ascomputer-readable instructions, object code, data structures, programmodules, or other data. Examples of computer readable media may includerandom access memory (RAM), read only memory (ROM), electronicallyerasable programmable read only memory (EEPROM), flash memory or othermemory technology, compact disk read-only memory (CD-ROM), digitalversatile disks (DVD) or other optical disk storage, magnetic cassettes,magnetic tape, magnetic disk storage or other magnetic storage devices,or any other medium that can be used to store the desired informationand that can be accessed by computing device 101.

Although not required, various aspects described herein may be embodiedas a method, a data processing system, or as a computer-readable mediumstoring computer-executable instructions. For example, acomputer-readable medium storing instructions to cause a processor toperform steps of a method in accordance with aspects of the disclosedembodiments is contemplated. For example, aspects of the method stepsdisclosed herein may be executed on a processor on computing device 101.Such a processor may execute computer-executable instructions stored ona computer-readable medium.

Software may be stored within memory 115 and/or storage to provideinstructions to processor 103 for enabling computing device 101 toperform various functions. For example, memory 115 may store softwareused by computing device 101, such as operating system 117, applicationprograms 119, and associated database 121. Also, some or all of thecomputer executable instructions for computing device 101 may beembodied in hardware or firmware. Although not shown, RAM 105 mayinclude one or more applications representing the application datastored in RAM 105 while computing device 101 is on and correspondingsoftware applications (e.g., software tasks), are running on computingdevice 101.

Communications module 109 may include a microphone, keypad, touchscreen, and/or stylus through which a user of computing device 101 mayprovide input, and may also include one or more of a speaker forproviding audio output and a video display device for providing textual,audiovisual and/or graphical output. Computing system environment 100may also include optical scanners (not shown). Exemplary usages includescanning and converting paper documents, e.g., correspondence, receipts,and the like, to digital files.

Computing device 101 may operate in a networked environment supportingconnections to one or more remote computing devices, such as computingdevices 141, 151, and 161. Computing devices 141, 151, and 161 may bepersonal computing devices or servers that include any or all of theelements described above relative to computing device 101. Computingdevice 161 may be a mobile device (e.g., smart phone) communicating overwireless carrier channel 171.

The network connections depicted in FIG. 1 may include local areanetwork (LAN) 125 and wide area network (WAN) 129, as well as othernetworks. When used in a LAN networking environment, computing device101 may be connected to LAN 125 through a network interface or adapterin communications module 109. When used in a WAN networking environment,computing device 101 may include a modem in communications module 109 orother means for establishing communications over WAN 129, such asInternet 131 or other type of computer network. The network connectionsshown are illustrative and other means of establishing a communicationslink between the computing devices may be used. Various well-knownprotocols such as transmission control protocol/Internet protocol(TCP/IP), Ethernet, file transfer protocol (FTP), hypertext transferprotocol (HTTP) and the like may be used, and the system can be operatedin a client-server configuration to permit a user to retrieve web pagesfrom a web-based server. Any of various conventional web browsers can beused to display and manipulate data on web pages.

The disclosure is operational with numerous other general purpose orspecial purpose computing system environments or configurations.Examples of well-known computing systems, environments, and/orconfigurations that may be suitable for use with the disclosedembodiments include, but are not limited to, personal computers (PCs),server computers, hand-held or laptop devices, smart phones,multiprocessor systems, microprocessor-based systems, set top boxes,programmable consumer electronics, network PCs, minicomputers, mainframecomputers, distributed computing environments that include any of theabove systems or devices, and the like.

FIG. 2 depicts an illustrative block diagram of workstations and serversthat may be used to implement the processes and functions of certainaspects of the present disclosure in accordance with one or more exampleembodiments. Referring to FIG. 2, illustrative system 200 may be usedfor implementing example embodiments according to the presentdisclosure. As illustrated, system 200 may include one or moreworkstation computers 201. Workstation 201 may be, for example, adesktop computer, a smartphone, a wireless device, a tablet computer, alaptop computer, and the like. Workstations 201 may be local or remote,and may be connected by one of communications links 202 to computernetwork 203 that is linked via communications link 205 to server 204. Insystem 200, server 204 may be any suitable server, processor, computer,or data processing device, or combination of the same. Server 204 may beused to process the instructions received from, and the transactionsentered into by, one or more participants.

Computer network 203 may be any suitable computer network including theInternet, an intranet, a wide-area network (WAN), a local-area network(LAN), a wireless network, a digital subscriber line (DSL) network, aframe relay network, an asynchronous transfer mode (ATM) network, avirtual private network (VPN), or any combination of any of the same.Communications links 202 and 205 may be any communications linkssuitable for communicating between workstations 201 and server 204, suchas network links, dial-up links, wireless links, hard-wired links, aswell as network types developed in the future, and the like.

FIG. 3 depicts an illustrative computing environment in accordance withone or more example embodiments. Referring to FIG. 3, computingenvironment 300 may be associated with an organization (e.g., afinancial institution, or the like) and may include one or morecomputing devices. For example, computing environment 300 may includecomputing device(s) 302, 304, and 306, which may be associated with oneor more financial advisors affiliated with the organization, andcomputing device(s) 308, 310, and 312, which may be associated with oneor more investment managers that may or may not be affiliated with theorganization. Computing environment 300 may also include one or morecomputing platforms. For example, computing environment 300 may includetrading platform(s) 314. Computing device(s) 302, 304, 306, 308, 310,and 312 and/or trading platform(s) 314 may include any combination ofcomputing devices (e.g., desktop computers, laptop computers, tabletcomputers, smart phones, servers, server blades, mainframes, virtualmachines, or the like) configured to perform one or more of thefunctions described herein.

Computing environment 300 may also include one or more networks. Forexample, computing environment 300 may include network(s) 316, which mayinclude one or more sub-networks (e.g., LANs, WANs, VPNs, or the like)and may interconnect one or more of computing device(s) 302, 304, 306,308, 310, and 312, trading platform(s) 314, and/or computing system 318.Computing system 318, which in some embodiments, may include one or moreof computing device(s) 302, 304, 306, 308, 310, and 312 and/or tradingplatform(s) 314, may comprise one or more processor(s) 320, memory 322,communication interface 324, and/or data bus 326. Data bus 326 mayinterconnect processor(s) 320, memory 322, and/or communicationinterface 324. Communication interface 324 may be a network interfaceconfigured to support communications between computing system 318 andnetwork(s) 316 (or one or more sub-networks thereof) (e.g.,communications between computing system 318 and one or more of computingdevice(s) 302, 304, 306, 308, 310, and 312 and/or trading platform(s)314. Memory 322 may include program module(s) 328, which may compriseinstructions that when executed by processor(s) 320 cause computingsystem 318 to perform one or more functions described herein.

FIGS. 4A, 4B, 4C, and 4D depict an illustrative event sequence inaccordance with one or more example embodiments. Referring to FIG. 4A,at step 1, computing system 318 may receive (e.g., via communicationinterface 324 and network(s) 316) data indicating an allocation ofinvestments prescribed by an investment manager associated withcomputing device(s) 308. Similarly, at step 2, computing system 318 mayreceive data indicating an allocation of investments prescribed by aninvestment manager associated with computing device(s) 310; and, at step3, computing system 318 may receive data indicating an allocation ofinvestments prescribed by an investment manager associated withcomputing device(s) 312. At step 4, computing system 318 may generateinvestment strategies in accordance with the investment allocationsprescribed by the investment managers associated with computingdevice(s) 308, 310, and 312. For example, the allocation of investmentsprescribed by the investment manager associated with computing device(s)308 may comprise a plurality of different assets (e.g., assets A, B, andZ) and may specify a percentage of invested funds that should beallocated to each of the different assets (e.g., 50% to A, 33% to B, and17% to Z), and computing system 318 may generate, based on the datareceived from computing device(s) 308, an investment strategy inaccordance with the allocation prescribed by the investment managerassociated with computing device(s) 308 (e.g., 50% to A (or an analogousasset), 33% to B (or an analogous asset), and 17% to Z (or an analogousasset)). Similarly, the allocation of investments prescribed by theinvestment manager associated with computing device(s) 310 may comprisea plurality of different assets (e.g., assets A, B, and Z) and mayspecify a percentage of invested funds that should be allocated to eachof the different assets (e.g., 33% to A, 50% to B, and 17% to Z), andcomputing system 318 may generate, based on the data received fromcomputing device(s) 310, an investment strategy in accordance with theallocation prescribed by the investment manager associated withcomputing device(s) 310 (e.g., 33% to A (or an analogous asset), 50% toB (or an analogous asset), and 17% to Z (or an analogous asset)); andthe allocation of investments prescribed by the investment managerassociated with computing device(s) 312 may comprise a plurality ofdifferent assets (e.g., assets A, B, and Z) and may specify a percentageof invested funds that should be allocated to each of the differentassets (e.g., 17% to A, 66% to B, and 17% to Z), and computing system318 may generate, based on the data received from computing device(s)312, an investment strategy in accordance with the allocation prescribedby the investment manager associated with computing device(s) 312 (e.g.,17% to A (or an analogous asset), 66% to B (or an analogous asset), and17% to Z (or an analogous asset)).

At step 5, computing system 318 may generate data indicating theallocation prescribed by the investment manager associated withcomputing device(s) 308 (and/or the corresponding investment strategygenerated by computing system 318) and requesting that the investmentmanager approve the allocation (and/or corresponding strategy) and maycommunicate (e.g., via communication interface 324 and network(s) 316)the data to computing device(s) 308. Similarly, at step 6, computingsystem 318 may generate data indicating the allocation prescribed by theinvestment manager associated with computing device(s) 310 (and/or thecorresponding investment strategy generated by computing system 318) andrequesting that the investment manager approve the allocation (and/orcorresponding strategy) and may communicate the data to computingdevice(s) 310; and, at step 7, computing system 318 may generate dataindicating the allocation prescribed by the investment managerassociated with computing device(s) 312 (and/or the correspondinginvestment strategy generated by computing system 318) and requestingthat the investment manager approve the allocation (and/or correspondingstrategy) and may communicate the data to computing device(s) 312.

At step 8, computing system 318 may receive data from computingdevice(s) 308 comprising instructions indicating whether the investmentmanager associated with computing device(s) 308 has approved theallocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy).Similarly, at step 9, computing system 318 may receive data fromcomputing device(s) 310 comprising instructions indicating whether theinvestment manager associated with computing device(s) 310 has approvedthe allocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy); and, atstep 10, computing system 318 may receive data from computing device(s)312 comprising instructions indicating whether the investment managerassociated with computing device(s) 312 has approved the allocation(and/or corresponding strategy) or made one or more modifications to theallocation (and/or corresponding strategy). At step 11, as will bedescribed in greater detail below, in the event that the data receivedfrom computing device(s) 308, 310, or 312 indicates that one or more ofthe allocations has been modified, computing system 318 may update thecorresponding investment strategies in accordance with themodifications.

At step 12, computing system 318 may receive (e.g., via communicationinterface 324 and network(s) 316) data from computing device(s) 302comprising instructions from a financial advisor associated withcomputing device(s) 302 and requesting that funds of a client beallocated amongst one or more of the investment strategies generated bycomputing system 318. Similarly, at step 13, computing system 318 mayreceive data from computing device(s) 304 comprising instructions from afinancial advisor associated with computing device(s) 304 and requestingthat funds of a client be allocated amongst one or more of theinvestment strategies; and, at step 14, computing system 318 may receivedata from computing device(s) 306 comprising instructions from afinancial advisor associated with computing device(s) 306 and requestingthat funds of a client be allocated amongst one or more of theinvestment strategies.

At step 15, as will be described in greater detail below, responsive todetermining that the instructions received from computing device(s) 302,304, or 306 comprise a request that would involve the purchase of one ormore units of an asset (e.g., A, B, or Z), computing system 318 maydetermine whether a customized rule exists for the asset, the client, oran account for which the unit(s) would be purchased. Responsive toidentifying a customized rule, computing system 318 may determinewhether the request meets each of one or more criteria specified by thecustomized rule before purchasing the unit(s). And responsive todetermining that the requests fails to meet one or more of the criteria,computing system 318 may generate data comprising feedback for thefinancial advisor (e.g., indicating the failure and/or identifying thepertinent criteria or rule) and may communicate the data to computingdevice(s) 302, 304, or 306. For example, the instructions received fromcomputing device(s) 304 may comprise a request that would involve thepurchase of one or more units of an asset for a client, computing system318 may identify a customized rule (e.g., for the asset, the client, oran account for which the unit(s) would be purchased), may determine thatthe request fails to meet one or more criteria specified by thecustomized rule, may generate data comprising feedback for the financialadvisor associated with computing device(s) 304 (e.g., to prompt thefinancial advisor to address the issue and/or modify the request), and,at step 16, may communicate (e.g., via communication interface 324 andnetwork(s) 316) the data comprising the feedback to computing device(s)304. At step 17, computing system 318 may receive data from computingdevice(s) 304 comprising instructions from the financial advisorassociated with computing device(s) 304 and requesting that funds of aclient be allocated amongst one or more of the investment strategies,and, at step 18, computing system 318 may determine that the requestdoes not implicate a customized rule or meets each of the criteriaspecified by one or more customized rules implicated by the request. Forexample, upon reviewing the feedback, the financial advisor associatedwith computing device(s) 304 may have addressed the issue and/ormodified their previous request.

Referring to FIG. 4B, at step 19, computing system 318 may updaterecords stored in memory 322 based on the instructions received fromcomputing device(s) 302, 304, and 306. For example, referring to FIG. 5,memory 322 may comprise client objects 502, 504, and 506, and theinstructions received from computing device(s) 302 may have comprised arequest to allocate funds of a client associated with client object 504amongst one or more of the investment strategies generated by computingsystem 318. The client associated with client object 504 may maintainone or more accounts (e.g., brokerage accounts, or the like) with theorganization, and client object 504 may comprise account objects 508,510, and 512, each of which may be associated with a particular one ofthe account(s) maintained by the client associated with client object504. Account objects 508, 510, and 512 may comprise asset objectsrepresenting units of assets held in the corresponding account. Forexample, account object 508 may comprise asset object 514, representinga unit of asset A held in an account corresponding to account object508; asset object 516, representing a unit of asset B held in theaccount corresponding to account object 508; and asset object 518,representing a unit of asset Z held in the account corresponding toaccount object 508.

Responsive to the request to allocate funds of the client associatedwith client object 504 amongst one or more of the investment strategies,computing system 318 may instantiate a sleeve object for each investmentstrategy. For example, the request may have indicated that funds held inan account corresponding to account object 512 should be allocatedevenly amongst the investment strategies generated based on theallocations prescribed by the investment managers associated withcomputing device(s) 308, 310, and 312 (e.g., 33% of the funds to each ofthe strategies), and computing system 318 may instantiate, in accountobject 512, sleeve object 520 for the investment strategy generatedbased on the allocation prescribed by the investment manager associatedwith computing device(s) 308, sleeve object 522 for the investmentstrategy generated based on the allocation prescribed by the investmentmanager associated with computing device(s) 310, and sleeve object 524for the investment strategy generated based on the allocation prescribedby the investment manager associated with computing device(s) 312.

For each of the investment strategies, computing system 318 may, foreach asset prescribed by the allocation (or analogous asset indicated bythe strategy), determine, based on a percentage to be invested in theasset indicated by the strategy, a percentage of the funds allocated bythe request to the strategy, and a current market price of the asset, anumber of units of the asset to be purchased for the account and may,for each unit, instantiate, in the sleeve object for the strategy, anasset object representing the unit. For example, for the investmentstrategy generated based on the allocation prescribed by the investmentmanager associated with computing device(s) 308, computing system 318may determine that three units of asset A, two units of asset B, and oneunit of asset Z should be purchased for the account associated withaccount object 512 and may instantiate, in sleeve object 520, assetobjects 526, 528, and 530, representing the three units of asset A;asset objects 532 and 534, representing the two units of asset B; andasset object 536, representing the unit of asset Z.

Similarly, for the investment strategy generated based on the allocationprescribed by the investment manager associated with computing device(s)310, computing system 318 may determine that two units of asset A, threeunits of asset B, and one unit of asset Z should be purchased for theaccount associated with account object 512 and may instantiate, insleeve object 522, asset objects 538 and 540, representing the two unitsof asset A; asset objects 542, 544, and 546, representing the threeunits of asset B; and asset object 548, representing the unit of assetZ; and for the investment strategy generated based on the allocationprescribed by the investment manager associated with computing device(s)312, computing system 318 may determine that one unit of asset A, fourunits of asset B, and one unit of asset Z should be purchased for theaccount associated with account object 512 and may instantiate, insleeve object 524, asset object 550, representing the unit of asset A;asset objects 552, 554, 556, and 558, representing the four units ofasset B; and asset object 560, representing the unit of asset Z.

In some embodiments, computing system 318 may identify, in the accountobject corresponding to the account, one or more asset objectsrepresenting previously purchased units of one or more of the prescribedassets. In such embodiments, computing system 318 may move some or allof the asset objects representing the previously purchased units to oneor more of the sleeve objects and may store in memory 322 an indicationof the current market price of their corresponding assets and the timeat which the asset object(s) were moved to the sleeve object(s). Forexample, had the request described above been made with respect to anaccount corresponding to account object 508 (e.g., a request to allocateamongst investment strategies funds of an existing account that havealready been invested), computing system 318 may have identified assetobjects 514, 516, and 518, allocated (or moved them) to one or moresleeve objects instantiated in response to the request, stored dataindicating the current market price of their corresponding assets andthe time at which they were allocated to the sleeve object(s), andadjusted (e.g., reduced) the number of units to be purchasedaccordingly.

In some embodiments, upon instantiating asset objects, computing system318 may store within them data associating them with an indication ofthe current market price of their corresponding asset (e.g., trade-datedor pre-settlement data). For example, upon instantiating asset objects526, 528, 530, 538, 540, and 550, computing system 318 may store withinthem data associating them with an indication of the current marketprice for asset A. Similarly, upon instantiating asset objects 532, 534,542, 544, 546, 552, 554, 556, and 558, computing system 318 may storewithin them data associating them with an indication of the currentmarket price for asset B; and upon instantiating asset objects 536, 548,and 560, computing system 318 may store within them data associatingthem with an indication of the current market price for asset Z.

In some embodiments, responsive to determining to purchase a unit of anasset for a client, computing system 318 may instantiate, within anobject corresponding to the client, an object comprising a variable forstoring a basis for the unit. For example, client object 504 maycomprise data structure 562, and responsive to determining to purchaseeach of the six units of asset A, nine units of asset B, and three unitsof asset Z for the account corresponding to account object 512,computing system 318 may instantiate, in data structure 562, an objectcomprising a variable for storing a basis for the unit.

Returning to FIG. 4B, at step 20, computing system 318 may generateinstructions to purchase the six units of asset A, nine units of assetB, and three units of asset Z and, at step 21, may communicate (e.g.,via communication interface 324 and network(s) 316) the instructions totrading platform(s) 314, which, at step 22, may purchase the units. Atstep 23, computing system 318 may receive (e.g., via communicationinterface 324 and network(s) 316) from trading platform(s) 314 dataindicating, for each of the units, a price and time at which the unitwas purchased (e.g., settlement data). At step 24, responsive toreceiving the data from trading platform(s) 314, computing system 318may update the records stored in memory 322 based on the data.

In some embodiments, for each of the units, computing system 318 maystore in memory 322 an indication of the price and time at which theunit was purchased and data associating the asset object representingthe unit with the indication. For example, for each of the six units ofasset A, computing system 318 may store in memory 322 an indication ofthe price and time at which the unit was purchased and data associatingthe indication with the asset object representing the unit (e.g., assetobject 526, 528, 530, 538, 540, or 550). Similarly, for each of the nineunits of asset B, computing system 318 may store in memory 322 anindication of the price and time at which the unit was purchased anddata associating the indication with the asset object representing theunit (e.g., asset object 532, 534, 542, 544, 546, 552, 554, 556, or558); and for each of the three units of asset Z, computing system 318may store in memory 322 an indication of the price and time at which theunit was purchased and data associating the indication with the assetobject representing the unit (e.g., asset object 536, 548, or 560).

As indicated above, in some embodiments, responsive to determining topurchase a unit of an asset for a client, computing system 318 mayinstantiate, within an object corresponding to the client, an objectcomprising a variable for storing a basis for the unit. In suchembodiments, responsive to receiving data indicating a price at whichthe unit was purchased, computing system 318 may store, in the variablefor storing the basis for the unit, data indicating the price at whichthe unit was purchased. For example, responsive to receiving the datafrom trading platform(s) 314, for each of the six units of asset A, nineunits of asset B, and three units of asset Z, computing system 318 maystore, in the variable of the corresponding object instantiated in datastructure 562, data indicating the price at which the unit waspurchased. At step 25, computing system 318 may communicate feedbackdata generated based on the updated records (e.g., reflecting thepurchase of the six units of asset A, nine units of asset B, and threeunits of asset Z) to computing device(s) 302, 304, and/or 306. In someembodiments, computing system 318 may comprise a brokerage system, andthe records stored in memory 322 may comprise books and records (e.g.,one or more systems of record) for the brokerage system. It will beappreciated that by associating and/or segregating asset units (e.g.,assets of the client associated with client object 504 held within theaccount associated with account object 512) based on their correspondinginvestment strategy (e.g., via sleeve objects 520, 522, and 524),computing system 318 may obviate the need for maintaining and/orperiodically reconciling against records distinct from those stored inmemory 322, that is, records distinct from those maintained on thebrokerage system itself (e.g., shadow accounting), for the purpose ofidentifying or determining with which investment strategy a particularunit of an asset managed by the brokerage system is associated.

At step 26, computing system 318 may generate data indicating theallocation prescribed by the investment manager associated withcomputing device(s) 308 (and/or the corresponding investment strategygenerated by computing system 318) and requesting that the investmentmanager approve the allocation (and/or corresponding strategy) and maycommunicate the data to computing device(s) 308. Similarly, at step 27,computing system 318 may generate data indicating the allocationprescribed by the investment manager associated with computing device(s)310 (and/or the corresponding investment strategy generated by computingsystem 318) and requesting that the investment manager approve theallocation (and/or corresponding strategy) and may communicate the datato computing device(s) 310; and, at step 28, computing system 318 maygenerate data indicating the allocation prescribed by the investmentmanager associated with computing device(s) 312 (and/or thecorresponding investment strategy generated by computing system 318) andrequesting that the investment manager approve the allocation (and/orcorresponding strategy) and may communicate the data to computingdevice(s) 312.

In some embodiments, responsive to receiving data indicating a pluralityof elective options for a dividend to be paid by an issuer of an assetincluded in an allocation of investments prescribed by an investmentmanager, computing system 318 may generate a ballot comprising theplurality of elective options for the dividend and may communicate theballot to one or more computing devices associated with the investmentmanager. For example, responsive to receiving data indicating aplurality of elective options for a dividend to be paid by an issuer ofan asset included in the allocation of investments prescribed by theinvestment manager associated with computing device(s) 310 and theallocation of investments prescribed by the investment managerassociated with computing device(s) 312, computing system 318 maygenerate a ballot comprising the plurality of elective options and maycommunicate the ballot to computing device(s) 310 and computingdevice(s) 312 (e.g., in steps 27 and 28, respectively).

At step 29, computing system 318 may receive data from computingdevice(s) 308 comprising instructions indicating whether the investmentmanager associated with computing device(s) 308 has approved theallocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy).Similarly, at step 30, computing system 318 may receive data fromcomputing device(s) 310 comprising instructions indicating whether theinvestment manager associated with computing device(s) 310 has approvedthe allocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy); and, atstep 31, computing system 318 may receive data from computing device(s)312 comprising instructions indicating whether the investment managerassociated with computing device(s) 312 has approved the allocation(and/or corresponding strategy) or made one or more modifications to theallocation (and/or corresponding strategy).

At step 32, responsive to determining that the data indicates that oneor more of the investment managers have modified their prescribedallocation, computing system 318 may updated the correspondinginvestment strategies accordingly. At step 33, computing system 318 mayupdate the records stored in memory 322 in accordance with the modifiedinvestment strategies. For example, the investment manager associatedwith computing device(s) 310 may have increased the percentage ofinvested funds to be allocated to asset B and decreased the percentageof invested funds to be allocated to asset A, while the investmentmanager associated with computing device(s) 312 may have increased thepercentage of invested funds to be allocated to asset A and decreasedthe percentage of invested funds to be allocated to asset B.Accordingly, computing system 318 may move asset objects representingunits of asset A (e.g., asset object 540) from sleeve object 522 tosleeve object 524, may store data indicating the current market pricefor asset A and the time at which the asset objects were moved fromsleeve object 522 to sleeve object 524, may move asset objectsrepresenting units of asset B (e.g., asset object 552) from sleeveobject 524 to sleeve object 522, and may store data indicating thecurrent market price for asset B and the time at which the asset objectswere moved from sleeve object 524 to sleeve object 522 (e.g., in lieu ofgenerating unnecessary trades for the client associated with clientobject 504 and/or the account associated with account object 512).

Additionally or alternatively, computing system 318 may determine, basedon the updated strategies, that a number of units of an asset need to besold for a sleeve object to generate funds to purchase a number of unitsof a different asset for the sleeve object, may instantiate assetobjects in the sleeve object representing the units to be purchased,and, at step 34, may generate instructions to sell the number of unitsof the asset and to purchase the number of units of the different asset.At step 35, computing system 318 may communicate the instructions totrading platform(s) 314, which, referring to FIG. 4C, at step 36, maysell the number of units of the asset and purchase the number of unitsof the different asset. At step 37, computing system 318 may receivedata from trading platform(s) 314 indicating the prices and times atwhich the units were purchased and sold and, at step 38, may update therecords stored in memory 322 based on the data received from tradingplatform(s) 314. At step 39, computing system 318 may communicatefeedback data generated based on the updated records to computingdevice(s) 302, 304, and/or 306.

At step 40, computing system 318 may generate data indicating theallocation prescribed by the investment manager associated withcomputing device(s) 308 (and/or the corresponding investment strategygenerated by computing system 318) and requesting that the investmentmanager approve the allocation (and/or corresponding strategy) and maycommunicate the data to computing device(s) 308. Similarly, at step 41,computing system 318 may generate data indicating the allocationprescribed by the investment manager associated with computing device(s)310 (and/or the corresponding investment strategy generated by computingsystem 318) and requesting that the investment manager approve theallocation (and/or corresponding strategy) and may communicate the datato computing device(s) 310; and, at step 42, computing system 318 maygenerate data indicating the allocation prescribed by the investmentmanager associated with computing device(s) 312 (and/or thecorresponding investment strategy generated by computing system 318) andrequesting that the investment manager approve the allocation (and/orcorresponding strategy) and may communicate the data to computingdevice(s) 312.

As indicated above, in some embodiments, the data may comprise a ballotgenerated by computing system 318 and comprising a plurality of electiveoptions for a dividend to be paid by an issuer of an asset included inthe allocation of investments prescribed by the investment manager. Forexample, the data communicated to computing device(s) 312 may includethe ballot communicated to computing device(s) 310 and 312 in steps 27and 28 above, respectively (e.g., computing system 318 may have receiveddata indicating an election made by the investment manager associatedwith computing device(s) 310 in step 30).

At step 43, computing system 318 may receive data from computingdevice(s) 308 comprising instructions indicating whether the investmentmanager associated with computing device(s) 308 has approved theallocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy).Similarly, at step 44, computing system 318 may receive data fromcomputing device(s) 310 comprising instructions indicating whether theinvestment manager associated with computing device(s) 310 has approvedthe allocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy); and, atstep 45, computing system 318 may receive data from computing device(s)312 comprising instructions indicating whether the investment managerassociated with computing device(s) 312 has approved the allocation(and/or corresponding strategy) or made one or more modifications to theallocation (and/or corresponding strategy).

Responsive to determining that the instructions received from computingdevice(s) 312 do not include an election, at step 46, computing system318 may generate data indicating the allocation prescribed by theinvestment manager associated with computing device(s) 312 (and/or thecorresponding investment strategy generated by computing system 318) andrequesting that the investment manager approve the allocation (and/orcorresponding strategy) and make an election via the ballot and maycommunicate the data to computing device(s) 312. At step 47, computingsystem 318 may receive data from computing device(s) 312 comprisinginstructions indicating whether the investment manager associated withcomputing device(s) 312 has approved the allocation (and/orcorresponding strategy) or made one or more modifications to theallocation (and/or corresponding strategy) and comprising an electionmade via the ballot by the investment manager associated with computingdevice(s) 312.

At step 48, computing system 318 may update the investment strategiesbased on the data received from computing device(s) 308, 310, and 312and, at step 49, may update the records stored in memory 322accordingly. In some embodiments, responsive to identifying funds orunits of an asset associated with a dividend paid by an issuer of anasset, computing system 318 may allocate the funds or units to one ormore of sleeve objects 520, 522, or 524 which comprised asset objectsrepresenting units of the asset on the date for which the dividend waspaid and/or in accordance with elections made by their correspondinginvestment managers. In such embodiments, computing system 318 maydetermine a number of units of one or more assets that need to bepurchased or sold to allocate the funds in the sleeve object inaccordance with its corresponding investment strategy. At step 50,computing system 318 may generate instructions to purchase or sell theunits, and, at step 51, computing system 318 may communicate theinstructions to trading platform(s) 314, which, at step 52, may purchaseor sell the units. At step 53, computing system 318 may receive datafrom trading platform(s) 314 indicating the prices and times at whichthe units were purchase or sold, and, referring to FIG. 4D, at step 54,may update the records stored in memory 322 based on the data receivedfrom trading platform(s) 314. At step 55, computing system 318 maycommunicate feedback data generated based on the updated records tocomputing device(s) 302, 304, and/or 306.

At step 56, computing system 318 may generate data indicating theallocation prescribed by the investment manager associated withcomputing device(s) 308 (and/or the corresponding investment strategygenerated by computing system 318) and requesting that the investmentmanager approve the allocation (and/or corresponding strategy) and maycommunicate the data to computing device(s) 308. Similarly, at step 57,computing system 318 may generate data indicating the allocationprescribed by the investment manager associated with computing device(s)310 (and/or the corresponding investment strategy generated by computingsystem 318) and requesting that the investment manager approve theallocation (and/or corresponding strategy) and may communicate the datato computing device(s) 310; and, at step 58, computing system 318 maygenerate data indicating the allocation prescribed by the investmentmanager associated with computing device(s) 312 (and/or thecorresponding investment strategy generated by computing system 318) andrequesting that the investment manager approve the allocation (and/orcorresponding strategy) and may communicate the data to computingdevice(s) 312.

At step 59, computing system 318 may receive data from computingdevice(s) 308 comprising instructions indicating whether the investmentmanager associated with computing device(s) 308 has approved theallocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy).Similarly, at step 60, computing system 318 may receive data fromcomputing device(s) 310 comprising instructions indicating whether theinvestment manager associated with computing device(s) 310 has approvedthe allocation (and/or corresponding strategy) or made one or moremodifications to the allocation (and/or corresponding strategy); and, atstep 61, computing system 318 may receive data from computing device(s)312 comprising instructions indicating whether the investment managerassociated with computing device(s) 312 has approved the allocation(and/or corresponding strategy) or made one or more modifications to theallocation (and/or corresponding strategy).

At step 62, computing system 318 may update the investment strategiesbased on the data received from computing device(s) 308, 310, and 312and, at step 63, may update the records stored in memory 322accordingly. In some embodiments, responsive to determining to sell aunit of an asset for the client, the computing system may select, fromamongst the plurality of bases for the asset stored in the variables ofthe objects of data structure 562 a basis for the unit. In someembodiments, computing system 318 may select the basis for the unitbased on a predetermined parameter for the client or the account. Forexample, the predetermined parameter may indicate that a highestavailable basis for the unit should be utilized for the unit, andcomputing system 318 may select, from amongst the plurality of bases forthe asset, the highest basis. Alternatively, the predetermined parametermay indicate that a lowest available basis for the unit should beutilized for the unit, and computing system 318 may select, from amongstthe plurality of bases for the asset, the lowest basis. In someembodiments, the predetermined parameter may comprise a realizedgain-loss value for the client. In such embodiments, computing system318 may select, based on a current market valuation of the unit, a basishaving a difference with the current market valuation of the unit thatis closest to the realized gain-loss value for the client. In someembodiments, the realized gain-loss value for the client may reflect oneor more losses carried forward by the client from a time at least oneyear prior to a time at which the unit was sold.

At step 64, computing system 318 may generate instructions to purchaseor sell the units, and, at step 65, computing system 318 may communicatethe instructions to trading platform(s) 314, which, at step 66, maypurchase or sell the units. At step 67, computing system 318 may receivedata from trading platform(s) 314 indicating the prices and times atwhich the units were purchase or sold, and, at step 68, may update therecords stored in memory 322 based on the data received from tradingplatform(s) 314. At step 69, computing system 318 may communicatefeedback data generated based on the updated records to computingdevice(s) 302, 304, and/or 306.

At step 70, computing system 318 may determine a performance compositefor an investment strategy. For example, computing system 318 mayidentify, in memory 322, a plurality of account objects comprising aplurality of sleeve objects for the investment strategy and may identifya portion of the plurality of account objects meeting one or morecriteria of the performance composite. Computing system 318 maydetermine the performance composite based on data stored in a portion ofthe plurality of sleeve objects stored in the portion of the pluralityof account objects, may generate a report indicating the performancecomposite, and, at step 71, may communicate the report to computingdevice(s) 302, 304, and/or 306.

In some embodiments, for each account object of the portion of theplurality of account objects, computing system 318 may determine thatthe account object does not comprise data indicating one or more assetrestrictions specified by the one or more criteria. In some embodiments,for each account object of the portion of the plurality of accountobjects, computing system 318 may determine that the account objectcomprised a sleeve object of the plurality of sleeve objects for eachday of a time range specified by the one or more criteria. In suchembodiments, computing system 318 may determine a market valuation at abeginning of the time range for assets held within the sleeve object atthe beginning of the time range, a market valuation at an end of thetime range for assets held within the sleeve object at the end of thetime range, and a ratio of the market valuation at the beginning of thetime range to the market valuation at the end of the time range.

In some embodiments, the report may comprise a comparison of theperformance composite with a plurality of other performance composites.For example, the one or more criteria may specify a time range for theperformance composite, and the plurality of other performance compositesmay comprise one or more performance composites for the investmentstrategy indicating performance of the investment strategy over one ormore periods of time beginning before the time range. Additionally oralternatively, the plurality of other performance composites maycomprise one or more performance composites for a different investmentstrategy indicating performance of the different investment strategyover the time range and/or the one or more periods of time beginningbefore the time range.

One or more aspects of the disclosure may be embodied in computer-usabledata or computer-executable instructions, such as in one or more programmodules, executed by one or more computers or other devices to performthe operations described herein. Generally, program modules includeroutines, programs, objects, components, data structures, and the likethat perform particular tasks or implement particular data types whenexecuted by one or more processors in a computer or other dataprocessing device. The computer-executable instructions may be stored ona computer-readable medium such as a hard disk, optical disk, removablestorage media, solid-state memory, RAM, and the like. The functionalityof the program modules may be combined or distributed as desired invarious embodiments. In addition, the functionality may be embodied inwhole or in part in firmware or hardware equivalents, such as integratedcircuits, application-specific integrated circuits (ASICs), fieldprogrammable gate arrays (FPGA), and the like. Particular datastructures may be used to more effectively implement one or more aspectsof the disclosure, and such data structures are contemplated to bewithin the scope of computer executable instructions and computer-usabledata described herein.

Various aspects described herein may be embodied as a method, anapparatus, or as one or more computer-readable media storingcomputer-executable instructions. Accordingly, those aspects may takethe form of an entirely hardware embodiment, an entirely softwareembodiment, an entirely firmware embodiment, or an embodiment combiningsoftware, hardware, and firmware aspects in any combination. Inaddition, various signals representing data or events as describedherein may be transferred between a source and a destination in the formof light or electromagnetic waves traveling through signal-conductingmedia such as metal wires, optical fibers, or wireless transmissionmedia (e.g., air or space). In general, the one or morecomputer-readable media may comprise one or more non-transitorycomputer-readable media.

As described herein, the various methods and acts may be operativeacross one or more computing servers and one or more networks. Thefunctionality may be distributed in any manner, or may be located in asingle computing device (e.g., a server, a client computer, and thelike).

Aspects of the disclosure have been described in terms of illustrativeembodiments thereof. Numerous other embodiments, modifications, andvariations within the scope and spirit of the appended claims will occurto persons of ordinary skill in the art from a review of thisdisclosure. For example, one or more of the steps depicted in theillustrative figures may be performed in other than the recited order,and one or more depicted steps may be optional in accordance withaspects of the disclosure.

What is claimed is:
 1. A method comprising: receiving, via acommunication interface of a computing system comprising at least oneprocessor and a memory, a request to purchase a number of units of anasset for an account of a client; and responsive to receiving therequest to purchase the number of the units of the asset for the accountof the client, for each unit of the units: instantiating, by the atleast one processor, in a client object stored in the memory andassociated with the client, an object comprising a variable for storinga basis for the unit; instantiating, by the at least one processor, in asleeve object that is stored within an account object stored within theclient object and associated with the account, an object representingthe unit, wherein the sleeve object corresponds to an investmentstrategy associated with an allocation of investments prescribed by aninvestment manager; generating, by the at least one processor,instructions to purchase the unit; communicating, via the communicationinterface and to one or more trading platforms, the instructions topurchase the unit; receiving, via the communication interface and fromthe one or more trading platforms, data indicating a price and time atwhich the unit was purchased; and responsive to receiving the dataindicating the price and time at which the unit was purchased: storing,by the at least one processor and in the memory, an indication of theprice and time at which the unit was purchased and data associating theindication with the object representing the unit; and storing, by the atleast one processor and in the object comprising the variable forstoring the basis for the unit, data indicating the price at which theunit was purchased.
 2. The method of claim 1, further comprising:receiving, via the communication interface, a request to sell a portionof the units; and responsive to receiving the request to sell theportion of the units, for each unit of the portion: selecting, by the atleast one processor, from amongst a plurality of bases for the assetstored in a plurality of objects associated with the asset and stored inthe client object, and based on a predetermined parameter for theclient, a basis for the unit; and after the selecting: generating, bythe at least one processor, instructions to sell the unit;communicating, via the communication interface and to the one or moretrading platforms, the instructions to sell the unit; receiving, via thecommunication interface and from the one or more trading platforms, dataindicating a price at which the unit was sold; and responsive toreceiving the data indicating the price at which the unit was sold,determining, by the at least one processor, a difference between thebasis for the unit and the price at which the unit was sold.
 3. Themethod of claim 2, wherein the predetermined parameter for the clientindicates that a highest available basis for the unit should be utilizedfor the unit, and wherein selecting the basis for the unit comprisesselecting, from amongst the plurality of bases for the asset, thehighest basis.
 4. The method of claim 2, wherein the predeterminedparameter for the client indicates that a lowest available basis for theunit should be utilized for the unit, and wherein selecting the basisfor the unit comprises selecting, from amongst the plurality of basesfor the asset, the lowest basis.
 5. The method of claim 2, whereinselecting the basis for the unit comprises selecting, from amongst theplurality of bases for the asset, a basis associated with a unit of theasset purchased for a different account of the client.
 6. The method ofclaim 2, wherein the predetermined parameter for the client comprises arealized gain-loss value for the client, and wherein selecting the basisfor the unit comprises selecting, from amongst the plurality of basesfor the asset and based on a current market valuation of the unit, abasis having a difference with the current market valuation of the unitthat is closest to the realized gain-loss value for the client.
 7. Themethod of claim 6, wherein the realized gain-loss value for the clientreflects losses carried forward by the client from a time at least oneyear prior to a time at which the unit was sold.
 8. A system comprising:a communication interface; at least one processor; and a memorycomprising instructions that when executed by the at least one processorcause the system to: receive, via the communication interface, a requestto purchase a number of units of an asset for an account of a client;and responsive to receiving the request to purchase the number of theunits of the asset for the account of the client, for each unit of theunits: instantiate, in a client object stored in the memory andassociated with the client, an object comprising a variable for storinga basis for the unit; instantiate, in a sleeve object that is storedwithin an account object stored within the client object and associatedwith the account, an object representing the unit, wherein the sleeveobject corresponds to an investment strategy associated with anallocation of investments prescribed by an investment manager; generateinstructions to purchase the unit; communicate, via the communicationinterface and to one or more trading platforms, the instructions topurchase the unit; receive, via the communication interface and from theone or more trading platforms, data indicating a price and time at whichthe unit was purchased; and responsive to receiving the data indicatingthe price and time at which the unit was purchased: store, in thememory, an indication of the price and time at which the unit waspurchased and data associating the indication with the objectrepresenting the unit; and store, in the object comprising the variablefor storing the basis for the unit, data indicating the price at whichthe unit was purchased.
 9. The system of claim 8, wherein theinstructions, when executed by the at least one processor, cause thesystem to: receive, via the communication interface, a request to sell aportion of the units; and responsive to receiving the request to sellthe portion of the units, for each unit of the portion: select, based ona predetermined parameter for the client and from amongst a plurality ofbases for the asset stored in a plurality of objects associated with theasset and stored in the client object, a basis for the unit; and afterselecting the basis for the unit: generate, by the at least oneprocessor, instructions to sell the unit; communicate, via thecommunication interface and to the one or more trading platforms, theinstructions to sell the unit; receive, via the communication interfaceand from the one or more trading platforms, data indicating a price atwhich the unit was sold; and responsive to receiving the data indicatingthe price at which the unit was sold, determine a difference between thebasis for the unit and the price at which the unit was sold.
 10. Thesystem of claim 9, wherein the predetermined parameter for the clientindicates that a highest available basis for the unit should be utilizedfor the unit, and wherein the instructions, when executed by the atleast one processor, cause the system to select, from amongst theplurality of bases for the asset, the highest basis.
 11. The system ofclaim 9, wherein the predetermined parameter for the client indicatesthat a lowest available basis for the unit should be utilized for theunit, and wherein the instructions, when executed by the at least oneprocessor, cause the system to select, from amongst the plurality ofbases for the asset, the lowest basis.
 12. The system of claim 9,wherein the instructions, when executed by the at least one processor,cause the system to select, from amongst the plurality of bases for theasset, a basis associated with a unit of the asset purchased for adifferent account of the client.
 13. The system of claim 9, wherein thepredetermined parameter for the client comprises a realized gain-lossvalue for the client, and wherein the instructions, when executed by theat least one processor, cause the system to select, from amongst theplurality of bases for the asset and based on a current market valuationof the unit, a basis having a difference with the current marketvaluation of the unit that is closest to the realized gain-loss valuefor the client.
 14. The system of claim 13, wherein the realizedgain-loss value for the client reflects losses carried forward by theclient from a time at least one year prior to a time at which the unitwas sold.
 15. One or more non-transitory computer-readable mediacomprising instructions that when executed by at least one processor ofa computing system comprising a communication interface and a memorycause the computing system to: receive, via the communication interface,a request to purchase a number of units of an asset for an account of aclient; and responsive to receiving the request to purchase the numberof the units of the asset for the account of the client, for each unitof the units: instantiate, in a client object stored in the memory andassociated with the client, an object comprising a variable for storinga basis for the unit; instantiate, in a sleeve object that is storedwithin an account object stored within the client object and associatedwith the account, an object representing the unit, wherein the sleeveobject corresponds to an investment strategy associated with anallocation of investments prescribed by an investment manager; generateinstructions to purchase the unit; communicate, via the communicationinterface and to one or more trading platforms, the instructions topurchase the unit; receive, via the communication interface and from theone or more trading platforms, data indicating a price and time at whichthe unit was purchased; and responsive to receiving the data indicatingthe price and time at which the unit was purchased: store, in thememory, an indication of the price and time at which the unit waspurchased and data associating the indication with the objectrepresenting the unit; and store, in the object comprising the variablefor storing the basis for the unit, data indicating the price at whichthe unit was purchased.
 16. The one or more non-transitorycomputer-readable media of claim 15, wherein the instructions, whenexecuted by the at least one processor, cause the computing system to:receive, via the communication interface, a request to sell a portion ofthe units; and responsive to receiving the request to sell the portionof the units, for each unit of the portion: select, based on apredetermined parameter for the client and from amongst a plurality ofbases for the asset stored in a plurality of objects associated with theasset and stored in the client object, a basis for the unit; and afterselecting the basis for the unit: generate, by the at least oneprocessor, instructions to sell the unit; communicate, via thecommunication interface and to the one or more trading platforms, theinstructions to sell the unit; receive, via the communication interfaceand from the one or more trading platforms, data indicating a price atwhich the unit was sold; and responsive to receiving the data indicatingthe price at which the unit was sold, determine a difference between thebasis for the unit and the price at which the unit was sold.
 17. The oneor more non-transitory computer-readable media of claim 16, wherein thepredetermined parameter for the client indicates that a highestavailable basis for the unit should be utilized for the unit, andwherein the instructions, when executed by the at least one processor,cause the computing system to select, from amongst the plurality ofbases for the asset, the highest basis.
 18. The one or morenon-transitory computer-readable media of claim 16, wherein thepredetermined parameter for the client indicates that a lowest availablebasis for the unit should be utilized for the unit, and wherein theinstructions, when executed by the at least one processor, cause thecomputing system to select, from amongst the plurality of bases for theasset, the lowest basis.
 19. The one or more non-transitorycomputer-readable media of claim 16, wherein the instructions, whenexecuted by the at least one processor, cause the computing system toselect, from amongst the plurality of bases for the asset, a basisassociated with a unit of the asset purchased for a different account ofthe client.
 20. The one or more non-transitory computer-readable mediaof claim 16, wherein the predetermined parameter for the clientcomprises a realized gain-loss value for the client, and wherein theinstructions, when executed by the at least one processor, cause thecomputing system to select, from amongst the plurality of bases for theasset and based on a current market valuation of the unit, a basishaving a difference with the current market valuation of the unit thatis closest to the realized gain-loss value for the client.